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What will it take for Australia to revolt?

US broadcasting legend, Larry King, says we should already be reaching for the revolver, at The Australian: Veteran newsman Larry King has attacked Australia’s draconian freedom-of-speech laws, saying he would “react with violence” if police raided his home in a bid to identify the source of a story. The American broadcaster, who hosted the eponymous

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Ponzi-borrowers cry poor on interest-only reset

Via the ABC: When Laura Christopher bought her house in Ipswich, Queensland, she signed up for an interest-only period. “The fact the repayments were going to be a bit lower was the major drawcard,” she told 7.30. “But I didn’t quite understand the implications.” The reason repayments were originally lower is that during an interest-only

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Melbourne’s mega sprawl non-solution for hyper immigration

It’s amazing watching the idiotic non-solutions emerge for Australia’s hyper immigration-fuelled population growth. With Melbourne’s population already having increased by around 1.6 million people this century, and projected to balloon by another 5.2 million people over the next 48 years: University academics have proposed the hilariously stupid plan of building a series or regional cities

14

Aussie gas imports “absurd”

Via Samantha Hepburn is the director of the Centre for Energy and Natural Resources Law, Deakin Law School, Deakin University: Right now, two projects have been proposed to import gas from overseas to supply eastern Australia. This is an absurd prospect. Australia is a resource-rich country, and exports more gas than any other nation. Why then,

24

Trump impeachment odds firm

Via Politico: The top U.S. envoy to Ukraine told House impeachment investigators on Tuesday that President Donald Trump sought to withhold critical military aid to Ukraine and refuse a White House meeting with the country’s president until it pursued politically-motivated investigations into Trump’s rivals. The diplomat, William Taylor, painted a damaging portrait of events that

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Australia taps new ‘boom’ market for international students

Over recent months, it has become apparent that Australia’s six year boom in international students is under threat: Australia’s three main sources of international students – China, India and Nepal – are all facing stiff headwinds that will crimp enrolments in the years ahead. As noted previously, Chinese student visa applications have already begun to

20

Nine sure is pumped about house prices

Via Crikey: The Nine papers’ months of bubbling property-price reporting finally came to the boil this morning. The Australian Financial Review was packed with breathless coverage of an apparent spike in residential real estate prices. National affairs editor Jennifer Hewett used her column to share an anecdote of attending an auction with her son, who “made a few limited

14

Stimulus demanded as WA property market crashes to 30-year low

Perth’s housing crash has been well documented on MB. According to CoreLogic, Perth’s house price bust has dragged on for more than five years, with values down more than 21% – easily exceeding prior busts: Perth rents have also collapsed by 22% since December 2014, according to the ABS: Now, newly released data from Landgate

10

Gottiboff demands kow tow as China property buyers in “sudden slump”

Via Gottiboff today: Relations between Australia and China have rarely been worse and there has been a sudden slump in the buying of Australian real estate by mainland Chinese—led by lower demand for Sydney apartments. There are fears the real estate downturn may extend to education and tourism –an escalation that is almost certain if

11

RBA propaganda: Australian wages to magically lift in 2020

Reserve Bank of Australia (RBA) governor, Philip Lowe, has told an International Monetary Fund meeting in Washington that the Australian economy appears to be on track to return to its trend growth rate in 2020, which should put downward pressure on the unemployment rate and gradually boost wages. From The Australian: “I don’t think it’s

15

Flammable cladding the new asbestos

The head of Victoria’s cladding safety agency, Dan O’Brien, claims that 35% of buildings audited have flammable cladding, and has likened the problem to asbestos: Mr O’Brien said the Statewide Cladding Audit by the Victorian Building Authority had inspected 2300 buildings since it began in 2017, with 805 found to have aluminium composite panels or

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CCP building a fourth aircraft carrier

Via The National Interest: The People’s Liberation Army Navy—more commonly known outside of China as the Chinese Navy—is modernizing at a breakneck pace. Chinese shipbuilders have built more than one hundred warships in the past decade, a build rate outstripping the mighty U.S. Navy. Most importantly, China now has two aircraft carriers—Liaoning and a second

22

International students enslaved by own countrymen

Wage theft from international students has been an enduring theme across the Australian economy over times. Earlier this year, Alan Fels – the chair of the Migrant Workers Taskforce – described wage theft as “widespread and systematic”, and estimated that one-third of international students are being underpaid, typically by migrant employers of the same nationality:

21

David Crowe wakes in fright to migrant dystopia

There are few greater proponents of the mass immigration economic model than David Crowe at Domain. At least, there were. He used to defend it at every turn. Produced ridiculous propaganda. And declared it was impossible to cut. Not any more. Today Crowe finally saw what MB has seen for many years. That mass immigration

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Australia’s vast household debt a giant economic millstone

Over the June quarter, Australia’s household debt hit a record high 191% of household disposable income, after roughly tripling since the late-1980s: The latest Bank for International Settlements (BIS) global household debt data also confirmed that Australia has the second highest debt load in the world behind Switzerland, as well as the second highest average

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“Double agent” Gladys Liu linked to OBOR push

Via Herald Sun: A close friend of Liberal MP Gladys Liu last year set up a group to campaign for China’s controversial Belt and Road Initiative within Australia and the Pacific. Prominent property developer Chen Guo Jing has been described on Chinese language sites as the “implementer” of the Australasia Belt and Road Advocacy initiative.

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Macro Afternoon

A generally positive day across Asian risk markets excepting mainland China, following the good mood on Wall Street overnight. The Australian dollar continued to tank following yesterday’s release of the RBA minutes while the NZD was relatively stable despite an uptick in monthly CPI.  Yen strengthened slightly after a big breakout in USD strength overnight

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GetUp versus Advance destroys Australian politics

Tribalism is the bane of Australian progress. It is the default position for a populist Australian psychology that is always far more ready to adopt partisanship over national interest or even ideology. To wit, at The Guardian: While national politics frets about its trust crisis, the bulk of Australian voters appear reasonably sanguine with both

35

Building more dams won’t make it rain. Nor will bringing in millions

The Australia Institute’s Maryanne Slattery has hit out at the new found push to build dams across regional Australia to alleviate drought, arguing that it would be both costly and pointless given there will not be enough rain to fill them due to climate change: …if new dams can solve Australia’s water problems, why didn’t

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Is Mascot Towers going to collapse?

Via the ABC: Owners and residents of Sydney’s Mascot Towers have been advised existing cracks in the building have widened and new cracking has developed requiring urgent remediation works to avoid a “structural failure”. In the latest update on the troubled apartment block, law firm Mills Oakley, acting on behalf of the owners corporation, said

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Recessionberg is doing a Tony Abbott to the economy

David Bassanese has a whinge about the RBA: …so far at least, lower official interest rates have gone down like a lead balloon with households and business. Key measures of both business and consumer confidence are now lower than before the first RBA rate cut. Retail sales are still barely growing, and anecdotes from retailers

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Murdoch has gone climate crazy

Every day it is the same now. Chris Kenny: The extent of daily political deception in the global warming debate is extraordinary. The most obvious and relevant facts go unreported and the most pressing questions are not asked. It is an unspoken conspiracy of misinformation perpetrated by large elements of the media whose starting point